PASSED

This enacted measure establishes a Philadelphia job creation tax credit for eligible businesses that create at least 25 full-time jobs or increase their workforce by at least 20% within five years. The credit is $1,000 per qualifying new job, may be applied to the business privilege tax for up to five years, and businesses generally must maintain their Philadelphia operations and meet job-creation requirements or repay the credits.

Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by establishing a program under which a Job Creation Tax Credit will be given to certain businesses creating new jobs in the City of Philadelphia; all under certain terms and conditions.